Is Summerfield, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Summerfield has remained a Seller's Market.
Key Takeaway
Summerfield is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Summerfield, NC
How much do homes in Summerfield, NC cost?
Median Sold Price
$572,091
$194/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Summerfield have sold for 1.6% less than they did a year ago.
Summary: The median home sold price in Summerfield was $572,091 in April 2024, down 1.6% from last year, and the median price per square foot was $194.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $145.5K | $180K | +23.7% |
| 2 Bedrooms | $225K | $242.4K | +7.8% |
| 3 Bedrooms | $400K | $416.7K | +4.2% |
| 4 Bedrooms | $707.5K | $750K | +6.0% |
| 5+ Bedrooms | $885K | $682.8K | -22.8% |
Summary: Summerfield housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 23.7%, 2 bedroom homes increased by 7.8%, 3 bedroom homes increased by 4.2%, 4 bedroom homes increased by 6%, and 5+ bedroom homes decreased by 22.8%.
Median Sold Price Compared To Nearby Cities
| Oak Ridge | $570K | $639.9K | +12.3% |
| Stokesdale | $440K | $460K | +4.5% |
| Bruce Township | $557.7K | $574.7K | +3.0% |
| Center Grove Township | $625K | $632K | +1.1% |
| Summerfield | $581.5K | $572K | -1.6% |
Housing Supply in Summerfield, NC
How many homes are available in Summerfield, NC?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 59 | 74 | +25.4% |
Summary: The Summerfield real estate market had 74 homes for sale in April 2024, a 25.4% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 19 | 20 | +5.3% |
| 4 Bedrooms | 36 | 50 | +38.9% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Summerfield housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 5.3%, 4 bedroom homes increased by 38.9%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 15 | 13 | -13.3% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Summerfield, you may be able to get a good deal. 46.2% of homes here sold below asking price last month.
Summary: A total of 13 homes were sold or pending in Summerfield in April 2024, down by 13.3% month-over-month. Of the 13 sold homes, 46% were sold under asking, 31% were sold at asking, and 23% were sold over asking.
Days on Market for Summerfield, NC
How long does it take to sell a home in Summerfield, NC?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 53 Days | 37 Days | -30.2% |
Summary: Homes in Summerfield had an average of 37 days on market in Apr 2024, down by 30.2% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Summerfield are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 13 homes were sold in Summerfield; 77% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.
